Dover Downs amends revolver, increasing size, extending maturity

By Sara Rosenberg

New York, April 21 - Dover Downs Gaming & Entertainment Inc. amended its credit facility, increasing the size of the unsecured revolver to $105 million from $70 million and extending the maturity to April 17, 2011, according to an 8-K filed with the Securities and Exchange Commission Friday.

In addition, revolver pricing was changed to a range of Libor plus 75 to 125 basis points, based on leverage.

The additional revolver room was obtained to provide the company with the necessary financing for the proposed expansion of its hotel.

The amendment was completed on April 18.

Wilmington Trust Co. is the agent on the deal.

Dover Downs is a Dover, Del.-based diversified gaming and entertainment company.

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